The China Banking and Insurance Regulatory Commission has issued a notice on promoting the support of non-bank financial institutions for large-scale equipment updates and the replacement of consumer goods. It proposes to increase automotive financial services and support the replacement of old cars with new ones. It encourages automotive financial companies and financial companies engaged in automotive financial business to increase financing support for municipal transportation enterprises, to support the promotion and application of new energy vehicles, and to promote the electrification of urban buses, the replacement of old new energy buses, and the upgrading of power batteries. On the premise of legal compliance and controllable risks, it encourages appropriately lowering the down payment ratio for automobile loans, reasonably determining the loan term and credit limit for automobile loans, and reducing the threshold for automobile consumption. It encourages the supply of diverse automotive financial products, providing financial services such as replacement vehicle continuation loans to consumers in the vehicle replacement process, appropriately reducing prepayment penalty fees, and supporting the replacement of old cars with new ones. It encourages strengthening cooperation with automakers, striving for interest rate support, and enhancing consumers' sense of gain. It encourages hierarchical and updated consumption of automobiles, and increases financial support for the second-hand car market based on controllable risks, thereby promoting automotive consumption.